This time, BTC pushed to the upside after the 14th, consistent with the patterns shown in previous examples.
Their were only two scenarios we could've seen develop:
1.) Price moves higher for 2–4 days after the 14th, forms a pivot top, then reverses lower within the following 1–2 weeks.
2.) Price rejects immediately from the 14th` high and starts moving down without an additional push higher.
As we can see, BTC followed the first scenario. We established an initial high around 78.2K a few days after the 14th. If we continue to track the prior 10 months of price behavior, this would suggest a higher probability of an extended move lower within the next 1–2 weeks.
That would also make sense in the context of a range bound market.
$BTC is repeating the same Bull Trap + Fake Breakout pattern again.
This chart already predicted the 3rd fake breakout. It looks like a breakout, but it’s a trap. According to this chart, $BTC will dump to $54,000 in 10 days.